President says regulations on major financial firms will protect consumers, prevent abuses that many say led to global recessionVOAVideo: Obama Signs Financial Reform Into LawThe most sweeping changes to the U.S. financial system since the 1930's officially became law on Wednesday. President Barack Obama declared the newly-passed financial reform bill a major victory for consumers, saying American taxpayers will never again have to foot the bill for risky bets made by large financial firms. But others argue the new law is too far-reaching and could hurt rather than help American consumers and businesses. Mil Arcega has more.